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NY Fed Didn't Act On JPMorgan London Whale Risks: OIG

The New York Federal Reserve Bank identified risks at the JPMorgan Chase unit responsible for the London Whale trading debacle, but did not share these findings with one of the bank’s other regulators, nor did it go through with planned examinations of the unit, the regulator’s internal watchdog said Tuesday.

  • GT Advanced Nears Deal With Apple To Explain Bankruptcy

    Apple Inc. supplier GT Advanced Technologies Inc. expects to reach an agreement shortly that would resolve its onetime partner’s worries about publicly airing information on the companies' falling-out that abruptly drove it into Chapter 11, attorneys said Tuesday morning.

  • Ackman Says Allergan CEO Oversaw Valeant Smear Campaign

    Activist investor Bill Ackman in a new court filing late on Monday accused Allergan Inc.'s CEO of trying to tarnish Valeant Pharmaceuticals International Inc. in an effort to sour shareholders on its hostile $53 billion bid.

  • Trinity Bilked Feds Of $175M, Jury Finds In Guardrail FCA Suit

    A Texas federal jury Monday found that Trinity Industries Inc. defrauded the U.S. government out of $175 million by selling dangerous guardrails to the U.S. Federal Highway Administration, reaching the verdict three days after a judge refused to toss the False Claims Act case.

  • GM Ignition Defect Death Tally Rises To 29

    More deaths have been attributed to a faulty ignition in General Motors Co. vehicles, bringing the total to 29, according to a claims report released Monday by the attorney who manages a compensation fund for victims of crashes caused by the defect.

  • Facebook Sues DLA Piper, Other Firms Over Sham Case

    Facebook Inc. on Monday sued DLA Piper LLP and three other law firms that previously represented Paul Ceglia, a businessman criminally charged with filing sham litigation seeking a 50 percent stake in the social media giant.